TRENTON — An infusion of $268 million in last-minute federal money for teachers’ jobs is coming to New Jersey, though it’s still unclear which districts will get help.

After wavering on the issue, the Christie administration today committed to applying for the money — part of a $26 billion spending bill signed today by President Obama — to avoid giving up control of how it will be spent to the U.S. Department of Education, spokesman Michael Drewniak said.

"Guaranteeing New Jersey is in control of these education dollars will ensure that these funds are used by all school districts to help restore some of the federal stimulus funds lost in this year’s difficult budget," Drewniak said.

The education funds could save 3,900 jobs in New Jersey, according to the latest estimate from the president’s Council of Economic Advisers.

The law does not specify which districts will receive cash. Governors have the option of distributing the money based on state and federal formulas — both of which take poverty and wealth levels into consideration — or leave it up to the U.S. Department of Education to give out.

The money, however, must be spent on teacher compensation — not buildings, administration or extracurriculars, U.S. Education Secretary Arne Duncan said.

Republicans in Washington described the funding as a giveaway to teachers’ unions and an example of wasteful spending they predict voters will punish the Democrats for in this fall’s elections. The U.S. House of Representatives approved the bill 247-161, mainly along party lines.

To pay for the aid, Congress is closing a tax loophole used by multinational corporations and reducing future food stamp benefits.

The package also provides $399 million to help New Jersey cover some Medicaid expenses for the first half of 2011 — $180 million less than Gov. Chris Christie planned for in this year’s budget. The governor is not adjusting the budget yet, state Treasury spokesman Andrew Pratt said.

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"This money doesn’t come until Jan. 1," Pratt said. "We can continue to work with our congressional delegation to secure the total amount that was promised to us."

The funding will come as many schools prepare to reopen in September with fewer teachers. A survey from the New Jersey School Boards Association shows more than 80 percent of districts earlier this summer reported they would have fewer teachers this fall, though some schools might have rehired teachers or rescinded layoffs slips since then, association spokesman Frank Belluscio said.

The federal funding is a "fraction" of what is spent across the state on education, but makes up for more than a quarter of $850 million in state education budget cuts this year, he said.

"It’s not going to eliminate or make up for all of the staff reductions that we’ve had, but it will definitely help education programs," Belluscio said.

The Christie administration, concerned about requirements of accepting the funds and how it would be distributed, did not commit to applying for the money until earlier today.

Drewniak declined to comment on when the state would apply or what the administration learned about the funding. Christie is out of state during the second week of a two-week summer vacation.

Drewniak had said the governor was concerned about accepting money that could not be replaced.

"We just need everyone to remember this is a one-time infusion of cash and that the problems that existed before today will return when the cash is used up," he said.

Duncan, the education secretary, said the Obama administration wanted to provide money while the economy healed and urged districts to begin rehiring immediately.

"We wanted to avert a crisis this year," he said on a conference call with reporters. "This is an investment in education."